BCH Gains 75% Over Three Months, Hits Eight-Month High
Bitcoin Cash (BCH) has emerged as one of the top-performing mid-cap cryptocurrencies in recent months, rising over 75% in 90 days and briefly touching $526.5 on July 1—its highest price in eight months. As of July 5, BCH was trading near $482.54, reflecting a modest retreat after its recent surge.
Whale Activity Surges to $482M in a Single Day
According to on-chain analytics, whale transactions involving over $100,000 in BCH jumped 122% on July 4, reaching 957,440 tokens or approximately $482 million in value. This surge in large-scale transfers coincided with heightened speculative interest and capital rotation into mid-cap crypto assets.
Whale activity has historically preceded key price movements in BCH, with similar transaction spikes recorded earlier in February, May, and June. The latest increase has once again drawn attention from traders and analysts looking for confirmation of market sentiment.
Technical Signals Support Continued Momentum
Despite weaker network fundamentals—such as daily active addresses falling to a six-year low—technical indicators remain bullish. In late June, BCH registered a golden cross on its hourly chart, a formation where the 50-day moving average crosses above the 200-day MA, often seen as a precursor to upward momentum.
Open interest in BCH derivatives has also increased, climbing 27.4% to $578 million, adding further fuel to speculation. Analysts are watching the $478–$508 range as a key support zone during this consolidation phase.
On-Chain Mystery Adds Intrigue
On July 5, a 10,000 BCH transaction worth nearly $5 million was flagged, occurring just before the movement of 80,000 dormant BTC—a transfer valued at over $8.5 billion. Experts suggest the BCH move may have been used to test wallet access prior to initiating the historic Bitcoin transfer.
Ecosystem Update: Knuth v0.68.0 Released
While usage remains low, the Bitcoin Cash Foundation released Knuth v0.68.0 on July 1, improving the node codebase and preparing for future upgrades in UTXO efficiency. BCH also continues to attract interest from micropayment and NFT communities, although no major adoption headlines have emerged recently.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss